Find the Indicated Probability $\frac { 1 } { 31 }$

question 122

Multiple Choice

Find the indicated probability.
-If a person is randomly selected, find the probability that his or her birthday is in May. Ignore leap years.

• A) \(\frac { 1 } { 31 }\)
• B) \(\frac { 1 } { 12 }\)
• C) \(\frac { 31 } { 365 }\)
• D) \(\frac { 1 } { 365 }\)

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Definitions:

Pound Sterling

The official currency of the United Kingdom, which is one of the world's oldest currencies still in use.

Accounts Receivable

Money owed to a business by its customers for goods or services that have been delivered but not yet paid for.

Temporal Method

A technique used in foreign currency translation that uses exchange rates based on the timing of the original transaction.

Remeasuring

The process of adjusting financial statements to reflect fair values or changes in exchange rates, often used in foreign currency translation and in fair value accounting.